Use limitations for secondary users of financial accounts

Abstract

Systems and methods for sharing financial accounts via a mobile wallet system are described. The mobile wallet system allows for a master wallet associated with a primary account holder to provide limited access to an account of the primary account holder to secondary users. The primary account holder can limit a secondary user's level of access to the funds in the account by establishing spending rules and limits for each secondary user. The rules and limits restrict the secondary users' abilities to spend funds in the account. The rule and limit types include spending limits, types of goods and services restrictions, store specific restrictions, purpose of purchase rules, purchase timing rules, geographic restrictions, group purchase rules.

What is claimed is: 
     
       1. A computer-implemented method, comprising:
 receiving, by a processor of a financial institution device from a first instance of a mobile wallet application deployed to a customer computing device associated with a primary account holder, a request to add a secondary user to an account of the primary account holder; 
 receiving, by the processor and from the customer computing device, information relating to the secondary user; 
 receiving, by the processor and from the customer computing device, rule and limitation information relating to at least one rule or limitation that restricts the secondary user's ability to spend funds from the account; 
 updating, by the processor, at least one database based on the information relating to the secondary user and the rule and limitation information; 
 based on the information relating to the secondary user, generating, by the processor, an electronic message comprising a link structured to allow the secondary user to download, at a secondary user computing device, a second instance of the mobile wallet application, wherein the second instance of the mobile wallet application is structured to gather location data from at least one of a Bluetooth device interfacing with the secondary user computing device, a WiFi device interfacing with the secondary computing device, and an application provided to the secondary computing device, and wherein the location data is used to allow a purchase transaction based on a determination that the secondary computing device is within a threshold distance from a third computing device; 
 based on the information relating to the secondary user, transmitting the electronic message to the secondary user computing device. 
 
     
     
       2. The method of  claim 1 , further comprising sending, by the processor and through a network interface of the financial institution device, an alert to the secondary user computing device, the alert including an indication that the secondary user has been added to the account. 
     
     
       3. The method of  claim 1 , further comprising receiving, by the processor and from the customer computing device, a selection of the account from a listing of accounts associated with the primary account holder. 
     
     
       4. The method of  claim 1 , wherein the at least one rule or limitation is selected from the following rules and limitations: a spending limit, a types of goods and services restriction, a store specific restriction, a purpose of purchase rule, a purchase timing rule, a geographic restriction, and group purchase rule. 
     
     
       5. The method of  claim 1 , further comprising processing a purchase request by the secondary user with funds from the account. 
     
     
       6. The method of  claim 5 , wherein the processing of the purchase request includes:
 receiving, by the processor and from a merchant computing system, a purchase request, the purchase request including purchase information; 
 comparing, by the processor, the purchase information with the at least one rule or limitation; and 
 transmitting, by the processor, a purchase authorization decision based at least in part on the comparison of the purchase information with the at least one rule or limitation. 
 
     
     
       7. The method of  claim 6 , further comprising determining that the purchase information is in compliance with the at least one rule or limitation, and wherein the purchase authorization decision is an approval. 
     
     
       8. The method of  claim 6 , further comprising determining that the purchase information is not in compliance with the at least one rule or limitation, and wherein the purchase authorization decision is a rejection. 
     
     
       9. A financial institution computing system, comprising:
 an account database; 
 a mobile wallet profile database; 
 a network interface; and 
 a processor configured to: 
 receive a request to add a secondary user to an account of the primary account holder from a first instance of a mobile wallet application deployed to a customer computing device associated with a primary account holder, 
 receive information relating to the secondary user, 
 receive rule and limitation information relating to at least one rule or limitation that restricts the secondary user's ability to spend funds from the account, 
 update at least one database based on the information relating to the secondary user and the rule and limitation information, 
 based on the information relating to the secondary user, generate, by the processor, an electronic message comprising a link structured to allow the secondary user to download, at a secondary user computing device, a second instance of the mobile wallet application, wherein the second instance of the mobile wallet application is structured to gather location data from at least one of a Bluetooth device interfacing with the secondary user computing device, a WiFi device interfacing with the secondary computing device, and an application provided to the secondary computing device, and wherein the location data is used to allow a purchase transaction based on a determination that the secondary computing device is within a threshold distance from a third computing device; 
 based on the information relating to the secondary user, transmitting the electronic message to the secondary user computing device. 
 
     
     
       10. The system of  claim 9 , wherein the processor is further configured to send an alert to the secondary user computing device, the alert including an indication that the secondary user has been added to the account. 
     
     
       11. The system of  claim 9 , wherein the processor is further configured to receive a selection of the account from a listing of accounts associated with the primary account holder. 
     
     
       12. The system of  claim 9 , wherein the at least one rule or limitation is selected from the following rules and limitations: a spending limit, a types of goods and services restriction, a store specific restriction, a purpose of purchase rule, a purchase timing rule, a geographic restriction, and group purchase rule. 
     
     
       13. The system of  claim 9 , wherein the processor is further configured to process a purchase request by the secondary user with funds from the account. 
     
     
       14. The system of  claim 13 , wherein the processing of the purchase request includes:
 receiving, by the processor and from a merchant computing system, a purchase request, the purchase request including purchase information; 
 comparing, by the processor, the purchase information with the at least one rule or limitation; and 
 transmitting, by the processor, a purchase authorization decision based at least in part on the comparison of the purchase information with the at least one rule or limitation. 
 
     
     
       15. The system of  claim 14 , wherein the processor is further configured to determine that the purchase information is in compliance with the at least one rule or limitation, and wherein the purchase authorization decision is an approval. 
     
     
       16. The system of  claim 14 , wherein the processor is further configured to determine that the purchase information is not in compliance with the at least one rule or limitation, and wherein the purchase authorization decision is a rejection. 
     
     
       17. A non-transitory computer readable media having computer-executable instructions embodied therein that, when executed by a processor of a financial institution computing system, cause the financial institution computing system to perform operations to restrict a primary user's access to an account owned by a primary account holder, the operations comprising:
 receive a request to add the secondary user to the account of the primary account holder from a first instance of a mobile wallet application deployed to a customer computing device associated with a primary account holder; 
 receive information relating to the secondary user; 
 receive rule and limitation information relating to at least one rule or limitation that restricts the secondary user's ability to spend funds from the account; 
 update at least one database based on the information relating to the secondary user and the rule and limitation information, 
 based on the information relating to the secondary user, generating, by the processor, an electronic message comprising a link structured to allow the secondary user to download, at a secondary user computing device, a second instance of the mobile wallet application, wherein the second instance of the mobile wallet application is structured to gather location data from at least one of a Bluetooth device interfacing with the secondary user computing device, a WiFi device interfacing with the secondary computing device, and an application provided to the secondary computing device, and wherein the location data is used to allow a purchase transaction based on a determination that the secondary computing device is within a threshold distance from a third computing device; 
 based on the information relating to the secondary user, transmitting the electronic message to the secondary user computing device. 
 
     
     
       18. The media of  claim 17 , wherein the operations further comprise send, through a network interface of the financial institution device, an alert to the secondary user computing device, the alert including an indication that the secondary user has been added to the account. 
     
     
       19. The media of  claim 17 , wherein the operations further comprise receive, from the customer computing device, a selection of the account from a listing of accounts associated with the primary account holder. 
     
     
       20. The media of  claim 17 , wherein the at least one rule or limitation is selected from the following rules and limitations: a spending limit, a types of goods and services restriction, a store specific restriction, a purpose of purchase rule, a purchase timing rule, a geographic restriction, and group purchase rule.